I am buying medical insurance for my parent and having a lot of discussion with my sister about which policy should we buy and which company should we buy the policy from.
We met a few financial adviser after done our own research and filter down to medical insurance from two companies. Both policies are medical insurance with deductible option, and the premium of these policies is lower than medical insurance that cover medical charges from the first dollar.
One of the reason we chosen the plan is because we have saved up certain amount of money and I think we can bear minimum level of risk. Going forward my plan will be increase the amount of deductible in the policy and can better manage the policy premium.
For younger people, I think can choose the combination of term life insurance, personal accident insurance and medical insurance to have adequate coverage. Quickly build a pool of saving is much more important because it give you more flexibility and freedom in handling many personal life issue.